Earn 2 Trade the gauntlet

[tango29]

Wh

I was guilty of that too but somewhat. I actually forgot :lol: Oh and I did the lifetime tingy this week but 50k is not enough for me, and I don't want to trade micros.

Why would you have to trade the micros? You can start out with 2 minis on the $50000 plan from what I see, and build as you make profit if you desire. Personally I'm not a fan of the $500 margin per contract for the minis. I see it leading to people getting murdered trading way to big for their accounts, and probably skills/plan.
I'm actually debating transitioning to the idea of a funded account for my futures trading which is all intraday for me, and spending more time after hitting a goal for the day on my equity/ long term positions.

 

[legionx]

@tango29, Whelp there is a lot to choose from when it comes to these companies. I am funded with OneUp ATM this week and I am doing fine. I think the disadvantages of the subscription is that you are thinking of making the profit target before the sub rolls over and that can be a detriment. Someone mentioned Leeloo trading and I find they will suit a lot of traders needs. Not too many barriers/restrictions. I also found that they have an important advice to all traders. They said that it is best to try to keep your lots just about the same size. This I already new but get greedy sometimes. Be wary that Leeloo, earn to trade mini gauntlet, OneUp has a live Trailing Drawdown while TST has an End of Day Trailing Drawdown. Oh, and I just failed SMB, they I pretty good I think, more of a better taste of a prop firm than their rivals imo. Just waiting for a firm to include medical, witholding tax etc in their portion of the percent of profits. Like a real prop firm but online. WallStreet please help. To answer your question, because of the Virus, market's volatility is high and so stop losses are higher than usual and the Live Trailing Drawdown is such a disadvantage in this market with little to spend.

 

[Earn2Trade]

@tango29, Whelp there is a lot to choose from when it comes to these companies. I am funded with OneUp ATM this week and I am doing fine. I think the disadvantages of the subscription is that you are thinking of making the profit target before the sub rolls over and that can be a detriment. Someone mentioned Leeloo trading and I find they will suit a lot of traders needs. Not too many barriers/restrictions. I also found that they have an important advice to all traders. They said that it is best to try to keep your lots just about the same size. This I already new but get greedy sometimes. Be wary that Leeloo, earn to trade mini gauntlet, OneUp has a live Trailing Drawdown while TST has an End of Day Trailing Drawdown. Oh, and I just failed SMB, they I pretty good I think, more of a better taste of a prop firm than their rivals imo. Just waiting for a firm to include medical, witholding tax etc in their portion of the percent of profits. Like a real prop firm but online. WallStreet please help. To answer your question, because of the Virus, market's volatility is high and so stop losses are higher than usual and the Live Trailing Drawdown is such a disadvantage in this market with little to spend.

Just want to clarify that TST's End of Day Trailing Drawdown is only during their examination. They trail on open equity when you pass.

 

[StockTrader100k]

A Trailing Drawdown (as opposed to a fixed drawdown) is the worst as far as a "funded account"

Any funded account that has a trailing drawdown combined with a rule that says if you make a withdrawal your new drawdown is the difference between the positive balance of any remaining profits you did not withdraw and the zero line is a bad for the trader.

The difference is a fixed drawdown allows you to make withdrawals of profits to zero and still have your full starting drawdown and daily loss loss limit intact which allows you to make profits withdraw to zero and start over with full funding of their money

A trailing drawdown with a rule that says if you withdraw funds then your trailing drawdown (and max daily loss) is now the difference between the positive balance of profits you left in your account and the zero line--then you are essentially trading your own money at that point and paying someone a 20% vig on any future profits--great for the funder --not so good for you the trader----in my opinion. Keep in mind that if you like the trailing drawdown for discipline purposes you can set up the same parameters with most brokers to have max contract/position size and auto-liquidate if you reach your pre-set trailing drawdown (or daily max loss) set up with the broker so essentially with the right broker that offers these tools you can emulate the same discipline/risk controls in your own account with that broker and even lock you out of trading for the day should you violate the risk rule(s) set up with the broker

Whereas a fixed drawdown like at FTMO - although FTMO offers a 70% payout as opposed to 80% like most of the the trailing drawdown companies do -the fixed drawdown offered by FTMO allows you to have revolving funding using the funding companies money over and over again and be able to withdraw profits to zero as often as you like and still have full max daily loss and max drawdown again to start a new trading day or week.

To be fair -the trailing drawdown companies do offer a viable educational product in the combines and those can be helpful in learning to have more discipline in your trading as there is financial pain in failing them and having to buy resets and pay monthly sub fees til you pass and get funded. And there is certainly nothing wrong with their business model as everyone is free to choose if they want to engage in trying them out and setting a goal of getting a funded account with them. Once you have the funded account though you need to run the numbers once you start consistently making profits with the funded account to see if it is really a long term solution for continued trading Versus taking your profits and setting up your own account with similar risk management parameters set up with a broker that offers those kinds of tools on accounts

@tango29, Whelp there is a lot to choose from when it comes to these companies. I am funded with OneUp ATM this week and I am doing fine. I think the disadvantages of the subscription is that you are thinking of making the profit target before the sub rolls over and that can be a detriment. Someone mentioned Leeloo trading and I find they will suit a lot of traders needs. Not too many barriers/restrictions. I also found that they have an important advice to all traders. They said that it is best to try to keep your lots just about the same size. This I already new but get greedy sometimes. Be wary that Leeloo, earn to trade mini gauntlet, OneUp has a live Trailing Drawdown while TST has an End of Day Trailing Drawdown. Oh, and I just failed SMB, they I pretty good I think, more of a better taste of a prop firm than their rivals imo. Just waiting for a firm to include medical, witholding tax etc in their portion of the percent of profits. Like a real prop firm but online. WallStreet please help. To answer your question, because of the Virus, market's volatility is high and so stop losses are higher than usual and the Live Trailing Drawdown is such a disadvantage in this market with little to spend.

 

[Earn2Trade]

A Trailing Drawdown (as opposed to a fixed drawdown) is the worst as far as a "funded account"

Any funded account that has a trailing drawdown combined with a rule that says if you make a withdrawal your new drawdown is the difference between the positive balance pf profits you did not withdraw and the zero line is a bad for the trader.

The difference is a fixed drawdown allows you to make withdrawals of profits to zero and still have your full starting drawdown and daily loss loss limit intact which allows you to make profits withdraw to zero and start over with full funding of their money

A trailing drawdown with a rule that says if you withdraw funds then your trailing drawdown (and max daily loss) is now the difference between the positive balance of profits you left in your account and the zero line--then you are essentially trading your own money at that point and paying someone a 20% vig on any futures profits.

Whereas a fixed drawdown like at FTMO - although FTMO offers a 70% payout as opposed to 80% like most of the the trailing drawdown companies fo -the fixed drawdown offered by FTMO allows you to have revolving funding using the funding companies money over and over again and be able to withdraw profits to zero as often as you like and still have full max daily loss and max drawdown again to start a new trading day or week.

Well, the purpose of the trailing drawdown is to limit the risk to the prop firm. The initial risk capital is on the table, so the prop firm stands to lose a lot of money if the trader loses right from the get-go. It is however beneficial for both sides that the trader gets to the point where they are trading with their own profit, because that is ideally what any trader would be doing. Acquiring profit, and then trading with the profit and not dipping back down into the initial risk capital.

 

[caacapital]

to get around the live trailing drawdown in topstep simply elect to trade the pro account upto $5k can be transferred over to the live account or withdrawn

 

[caacapital]

Just a heads up gang.....

For shits and giggles I responded to a mini gauntlet (lifetime price) offer.....ahem......but whatever, that's not the point.

Make sure you recognize that the amount of contracts you are allowed to trade is UP TO, not that you can right away like anywhere else. Got dinged for opening up a total of three contracts and scaling in. Was up 1.2 percent after Fed decided to bail people out again today. Was only allowed 2 contracts.

Nothing else to say but I canceled. It was the most exciting 15 mins of my life. I figure it was entertainment at only 99 USD. Just make sure you read all about that. And for fuck's sake, don't use that crappy platform they have. Use something else w/ Rithmic.

Cheers all

Gauntlet mini is a pure scam Im not sure how I added extra contracts after contacting them to limit to a max of 2 but again a failure for mistakenly adding an additional contract which is is a normal mistake that happens since there is no way to limit this from happening people are literally throwing your money in the trash this with the consistency rule people dont get sucked in by these deals. Im about to change my email address I dont see want to see emails from this company anymore. I'll stick to topstep they pay and the rules are They obviously cant attract customers naturally hence why they continue to have these sales!!! Im mad at myself for doing this again!!!

 

[Earn2Trade]

Gauntlet mini is a pure scam Im not sure how I added extra contracts after contacting them to limit to a max of 2 but again a failure for mistakenly adding an additional contract which is is a normal mistake that happens since there is no way to limit this from happening people are literally throwing your money in the trash this with the consistency rule people dont get sucked in by these deals. Im about to change my email address I dont see want to see emails from this company anymore. I'll stick to topstep they pay and the rules are They obviously cant attract customers naturally hence why they continue to have these sales!!! Im mad at myself for doing this again!!!

The Gauntlet Mini is not a scam by any stretch of the imagination. We appreciate that your emotions can be high when failing the examination, but we'd appreciate if you maintained a respectful demeanor toward our company. If you break a rule you fail the exam, you know that. I see you are currently in contact with the support agents about the simulation. If you'd like us to remove your email account please communicate to our support agents and we will gladly do so.

 

[caacapital]

I

The Gauntlet Mini is not a scam by any stretch of the imagination. We appreciate that your emotions can be high when failing the examination, but we'd appreciate if you maintained a respectful demeanor toward our company. If you break a rule you fail the exam, you know that. I see you are currently in contact with the support agents about the simulation. If you'd like us to remove your email account please communicate to our support agents and we will gladly do so.

I expressing the same thing that countless others have expressed about the max contract rule and still hasnt changed. Again topstep has a 10 second rule in which you can close the extra contract without violating that rule that is easily violated I let the $99 price suck me in again thinking that the only thing i had to worry about was the consistency rule because i would have the max contracts limit on your end which is something that can be done use Rithmic. I will have them remove it after i get my use of the data that I have paid for since you dont allow people to use the data once the subscription is cancelled.

 

[caacapital]

Let me modify the phrase the mini Gauntlet has too many obstacles to pass the max rule contract is worst than the trailing DD and consistency rule because 1 mistake cost you the gauntlet. They say they can not limit the contract amounts for you either. If you have never mistakenly added to many contracts then you may have a better chance of passing. I added an extra contract just as i was getting out of a losing micro ES position (-89) long NQ was trying to remove my sell limit order and somehow i added 2 extra contracts. note the auto liquidate and that i have not finished a day above 550 net pl this is one of the obstacles you must overcome.